When applying for financing a house in general, it is important to research and compare different banks, as there is a wide variety of available mortgages that can be adjusted according to your needs and house requirements.
But if what you are going to mortgage is a sustainable home, you may be interested in finding a mortgage with better conditions, which have taken into account the energy efficiency of the property. In this case, you are eligible to apply for a Green Mortgage.
In WeRelocate BCN we explain what a Green Mortgage is and what the requirements are to apply for it.
Green mortgages are those that offer a lower interest rate to finance the purchase, construction or rehabilitation of a sustainable home, which has an A or B energy rating.
Main features of the Green Mortgage
One of the main characteristics of the Green Mortgage is that the more energy efficient the property is, the better conditions the mortgage offers. This means economic savings for you, as you will have better interest rates.
Also, a property that has good energy efficiency is much better valued in the real estate market, and therefore has a higher chance of being sold in the future. As well as this, we can consider the overall savings in the bills, both for the owner and for the buyer, since a house with high energy efficiency consumes about 30% less energy.
Requirements to apply for a green mortgage
Not all banks offer this type of mortgage, but the banks that do so include within their main requirements the necessity to accredit the property’s energy efficiency. For this you will need to obtain a certificate of energy efficiency, stating the energy consumption and the emission of gases of the property. If the property receives a label with efficiency between A and B, you will be able to benefit from more advantageous mortgage conditions, for example, lower rates of interest.
Along with this fundamental requirement of energy efficiency, in order to obtain a green mortgage it is also necessary to comply with the usual conditions and requirements that are normally asked for with other ordinary mortgages.